Western Alliance Bancorporation (NYSE:WAL) Price Target Lowered to $105.00 at Barclays

Western Alliance Bancorporation (NYSE:WAL) had its price objective reduced by Barclays from $110.00 to $105.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 27.52% from the stock’s current price.

WAL has been the subject of several other reports. Bank of America increased their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Stephens reiterated an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research report on Friday. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.60.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL traded up $1.83 on Tuesday, hitting $82.34. The company’s stock had a trading volume of 2,115,613 shares, compared to its average volume of 1,324,832. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $94.28. The stock’s 50-day moving average is $82.73 and its two-hundred day moving average is $70.79.

Insider Buying and Selling

In related news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares in the company, valued at approximately $2,806,356.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,149 shares of company stock valued at $1,539,681. Corporate insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the third quarter worth $33,000. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation during the first quarter worth $27,000. UMB Bank n.a. raised its stake in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.